Some Evidence of Smooth Transition Nonlinearity in Colombian Inflation

Number: 
105
Published: 
Classification JEL: 
E31, E52, C51, C22
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

Evidence of smooth transition autoregressive (STAR) representations is found in two, out of three, time series of different measures of annual inflation in Colombia during this decade for monthly data. The STAR-type nonlinearities are asymmetric for infla